init acquires leading German provider of sales and customer management systems for public transport
Ad hoc announcement acc. to Article 17 MAR
Karlsruhe/Hamburg, 28 September 2016.
With effect from 1 October 2016 init innovation in traffic systems AG (ISIN DE 0005759807) is acquiring HanseCom Public Transport Ticketing Solutions (PTTS) GmbH, the leading provider of sales and customer management systems for public transport in Germany. By making this strategic investment the init Group is expanding its strong position in a dynamically growing market segment and thus sustainably strengthened its expertise in solutions for modern ticketing. The acquisition also brings a number of new major clients in Germany and Austria. This points to an additional revenue potential in the middle single-digit millions range in 2017.
HanseCom PTTS has mobile phone ticketing agreements with over 40 public transport companies that cover around 35 per cent of the area of Germany.The software developed by HanseCom PTTS helps more than 50 public transport companies to manage, bill and analyse subscriptions as well as ticket sales and follow up on fare dodgers. The numerous interfaces means it can be easily integrated into other products such as init's MOBILEvario, enhancing the product range.
HanseCom PTTS has its registered office in Hamburg and was spun out of the predecessor company HanseCom Gesellschaft für Informations- und Kommunikationsdienstleistungen mbH in an asset deal on 1 May 2016.